Anuj Puri, Chairman – Anarock Property Consultants
Be it South Delhi, South Mumbai, South Chennai, South Kolkata or South Bangalore – the Southern parts of any metro city have always ranked at the top of that city’s property pyramid.
These precincts are generally seen as the most prime and posh residential destinations and have historically housed the Who’s Who of the city.
If one wants to announce oneself or one’s business socially, buying a home or opening an office in these parts has always been seen as a pretty good bet.
This phenomenon still continues; however, with the passage of time, newer areas are competing with these legacy areas and are attracting the younger rich and the neo-rich.
Different cities are seeing this happening, largely because of the extremely limited new supply of residences in prime neighborhoods.
However, where there is any availability, wealthy buyers will always prefer a home in the Southern part of a city.
In Mumbai’s case, south-central Mumbai has finally shed the image of the mill district and now has superlative trophy projects under construction.